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Tyra Toy Company incurred the following costs during 20x1: Direct Materials P 5,000,000 Direct Labor 3,500,000 Manufacturing Overhead Utilities (primarily electricity) 250,000 Depreciation Plant and Equipment 350,000 Insurance 260,000 Supervisory Salary 470,000 Property Taxes 330,000 Selling Cost: Advertising 315,000 Sales Commission 145,000 Administrative Costs: Salaries of top management 580,000 Office Supplies 70,000 Depreciation on Building and Equipment 140,000 The company sold all of its products manufactured during the year. Depreciation is on a straight-line basis. During 20x1, the company operated at about half of its capacity, due to a slowdown in the economy. Prospects for 20x2 are slightly better. The marketing manager, forecasts a 30 percent growth in sales over the 20x1 level. TOTAL VARIABLE COST in 20x2 amount to P

Tyra Toy Company incurred the following costs during 20x1: Direct Materials P 5,000,000 Direct Labor 3,500,000 Manufacturing Overhead Utilities (primarily electricity) 250,000 Depreciation Plant and Equipment 350,000 Insurance 260,000 Supervisory Salary 470,000 Property Taxes 330,000 Selling Cost: Advertising 315,000 Sales Commission 145,000 Administrative Costs: Salaries of top management 580,000 Office Supplies 70,000 Depreciation on Building and Equipment 140,000 The company sold all of its products manufactured during the year. Depreciation is on a straight-line basis. During 20x1, the company operated at about half of its capacity, due to a slowdown in the economy. Prospects for 20x2 are slightly better. The marketing manager, forecasts a 30 percent growth in sales over the 20x1 level. TOTAL VARIABLE COST in 20x2 amount to P

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Tyra Toy Company incurred the following costs during 20x1: Direct Materials P 5,000,000 Direct Labor 3,500,000 Manufacturing Overhead Utilities (primarily electricity) 250,000 Depreciation Plant and Equipment 350,000 Insurance 260,000 Supervisory Salary 470,000 Property Taxes 330,000 Selling Cost: Advertising 315,000 Sales Commission 145,000 Administrative Costs: Salaries of top management 580,000 Office Supplies 70,000 Depreciation on Building and Equipment 140,000 The company sold all of its products manufactured during the year. Depreciation is on a straight-line basis. During 20x1, the company operated at about half of its capacity, due to a slowdown in the economy. Prospects for 20x2 are slightly better. The marketing manager, forecasts a 30 percent growth in sales over the 20x1 level. TOTAL VARIABLE COST in 20x2 amount to P
Transcribed Image Text:Tyra Toy Company incurred the following costs during 20x1: Direct Materials P 5,000,000 Direct Labor 3,500,000 Manufacturing Overhead Utilities (primarily electricity) 250,000 Depreciation Plant and Equipment 350,000 Insurance 260,000 Supervisory Salary 470,000 Property Taxes 330,000 Selling Cost: Advertising 315,000 Sales Commission 145,000 Administrative Costs: Salaries of top management 580,000 Office Supplies 70,000 Depreciation on Building and Equipment 140,000 The company sold all of its products manufactured during the year. Depreciation is on a straight-line basis. During 20x1, the company operated at about half of its capacity, due to a slowdown in the economy. Prospects for 20x2 are slightly better. The marketing manager, forecasts a 30 percent growth in sales over the 20x1 level. TOTAL VARIABLE COST in 20x2 amount to P
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